Question

The difference between the simple interest and compound interest on a certain sum for 2 years at 4% is re 1. The sum is

Answer 1

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Let the sum be Rs. x. Then,

C.I. =x1 +42- x=676x- x=51x.100625625

S.I. =x x 4 x 2=2x.10025

51x-2x= 162525

 x = 625.

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